The commodity bull market that began in 2020 might not be over yet. The last three years, 2022, 2023, and 2024, could merely represent a healthy retracement within a larger bull market. A few months ago, there was a minor panic just below a clear support level, after which the market rebounded, suggesting that such low prices were not sustainable in this market. Currently, on a 10 day timeframe, the MACD has issued a buy signal. I have no idea if this buy signal will ultimately propel prices much higher, but considering the recent shakeout of the bulls, I remain bullish.
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